Friday, August 14, 2009

Unexpected (?) Drop in Consumer Sentiment Index

This is the third "unexpected" negative economic report this week. Unexpected, i.e. if you don't read EPJ regularly.

Bernanke's slow money growth (M2 nsa) is starting to have its impact--just starting. Wait until it smacks the stock market silly.

The U.S. consumer sentiment index declined in early August to 63.2 from 66.0 in July, according to the Reuters/University of Michigan index.

It's the lowest reading since March, and is significantly worse than the 69.0 that was expected by economists surveyed by MarketWatch.

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